World Bank to allocate $13.6 million for Kyrgyzstan's Kambarata-1 Hydropower project
The World Bank (WB) plans to allocate $13.6 million to Kyrgyzstan as additional funding for the "Technical Support for Kambarata-1 Hydropower Plant (HPP)" project, Azernews reports.
According to Kyrgyzstan’s Ministry of Energy, $11 million of this amount will be provided as an interest-free loan for 50 years with a 10-year grace period, and $2.6 million will be a grant from the Multilateral Donor Trust Fund for the fourth phase of the Central Asia Water and Energy Program (CAWEP).
The funds will be directed towards financing crucial activities for preparing the Kambarata-1 HPP construction. Specifically, the project will update the feasibility study and environmental and social documentation, including the development of a benefit-sharing plan for the local communities.
Additionally, a macroeconomically and commercially sustainable financing plan for the Kambarata-1 HPP construction will be developed.
The Ministry noted that this collaboration between the Cabinet of Ministers of Kyrgyzstan and the WB aims to ensure the successful implementation of the Kambarata-1 HPP construction project on a sustainable and profitable basis. The next steps include the consideration of this funding allocation by the World Bank's Board of Executive Directors in July 2024.
Once completed, the Kambarata-1 HPP will have a capacity of 1860 MW and will produce 5.6 billion kWh of electricity per year. Preliminary estimates indicate that the dam will be 256 meters high and that the reservoir will hold more than 5.4 billion cubic meters of water.
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